Do you think rich people are always money pinching???

@easy888 (10405)
Australia
April 14, 2007 1:21am CST
'I know a friend who is quite rich, he owns three restuarants,but he is a money pinching guy. He tries to cut down his expenditure on every aspects. One night, he drove three of my friends to a restuarants to have dinner, he asked my friend to share the money for refilling the petrol. When we finished the dinner, he slapped an american express credit card on the table, but he had to pay cash as the restuatrant did not accept that card, he then paid the exact amount of the bill without tipping, he was quite angry as he would like to get more points for his credit card, he was not going to treat us and of course we had to share the bills. The worst thing is he always asks me whether I have spare cash on hand becuase he did not have cash at that time, but he never repays the money to me.' Do you know any money pinching or generous people ? are they rich ? Do you think they become rich because they are money pinching in every aspetcs or the other way round? How do you deal with money pinching people ? Being money pinching is the extreme of being frugal ,but the latter one is a good thing while people do not like to see people who only have money in their mind. What do you think ? any ideas will be welcomed..:)
24 people like this
64 responses
• India
14 Apr 07
You know, money pinching persons are mostly rich. This the basic funda of being rich person. If you see the riches people in world, you will find there background started with money pinching. Someone is less or more, but they are. Cent by cent accounting helps such people to be rich faster. With the ages they do not change. When new generation comes, changes take place. People working under such person, take great pains. They have also to suffer. You have given here a true example of such person. Avoid to travel/spend time with such person.
@easy888 (10405)
• Australia
14 Apr 07
True, may be I have to be money pinching from this monet onwards.lol.. Exactly, if your boss is money pinching, your life will be very hard on your workplace, most of the time, people will not stay with their money pinching boss and quit soon.
3 people like this
@whyaskq (7532)
• Singapore
16 Apr 07
That's how rich people get rich, through frugal living. Some get rich through money pinching :P I do have friends who are "rich" but they are cash poor. Rich because they own assets which are not liquid. Or they are rich only because they come from a rich family. In fact, it is the family who is rich but not them. They may carry cards, which may either be supplementary cards, or the cards may have swiped off their limits already. Majority of the cash rich are often generous though there are some misers. These are big spenders with lots of friends who seek enjoyment and tend to be there only when there is fun and enjoyment but in times of sorrow, how many will be around is guessable.
@easy888 (10405)
• Australia
16 Apr 07
May be being money pinching is an extreme case only.
@gemini1960 (1162)
• Philippines
14 Apr 07
maybe that way he get his riches through money pinching as what youve called it..maybe hes was using the conservative type of businessman .and theres nothing wrong with that..that is for him,,but not all rich people are like that..some live their life as really rich one and a big spender at that..
@easy888 (10405)
• Australia
15 Apr 07
Of course no all of them are like that or may be this guy is the exception,i hope...Anyway, I believe there are many things which are more important than money and being money pinching may be hard for you as you always need to calculate on something in order not to loss anything or win everything,
1 person likes this
@liranlgo (5748)
• Israel
14 Apr 07
I think that your questions refer to a certain type of individual. we can not make a general assumption, that every reach person is a money pincher or not. I am sure that before he had money his personality was like that, and after he had money his character stayed the same. Isn't it our fault, arent we expecting a rich man, to give away or share his money? If he was not rich, we would have payed our share when it came to the gas tank, and we would pay for the dinner we ate in the restaurant and we would tip or not tip the waitress according to certain things, so why does it have to change now? Did you ever think that when he became rich, he had a few experiences that his friends expected him to pay for things as a rich person? maybe even took advantage of him? maybe he is acting by this bad experience. Or maybe he thinks that every adult should take responsibility and pay for his own. so i really do not think that your friend did something wrong. he acted like he thought he should act, and he does know how to save and plan his expanses carefully. I have a very good friend that has always been rich, and a certain period of his life, people has taken advantage of him, he was naive. but now he is not. Yes there are people rich or not rich, that see things differently and act differently. But always remember the fact that a person is rich, does not mean that he has to do things or give things.
@easy888 (10405)
• Australia
15 Apr 07
May be it is an extreme case,and I have to admite there is exception in any case,some rich people are generous.
@Gwapako_28 (2142)
• Philippines
29 Jun 07
Well,i didnt encounter having a friend who is money pinching.All of my friends are cool and pays as much as they have money.They are professionals and have work too as a teacher in academe.(Certified Public Accountants).But my sister who always opened me about her boss being so money pinching.Who owns a lot of businesses and School Institutions.She hates it that even ballpens dont want to buy.Lolz...
• Singapore
29 Jun 07
Do you know that if you want to be rich, you need to save whatever you have. As for your friend's acts, he is too notorious, borrow money from you and did not return. This is getting on my nerves. You should go to his face and demand your borrowed money! Don't let him run away. When dealing with this kind of people, you must be firm!
2 people like this
• United States
4 Jun 07
Well firstly I know quite a lot of people who are rich but it all depends on your personality. I know people that dont make a lot of money but they spend it all and then i know people who make a lot of money and save as much as they can. As ive said before in some discussions, I have worked by owning my own business since I was 13 and I have done very well for myself in that business. I dont consider myself rich but I would say that I am quite generous. I do save when I can but im not trying to cut corners all the time with my money. For example, I dont go to a restaurant and not tip. I might go and buy a shirt one place because i know that the next store has it for twice the price. You know what im saying? I hope so!! :) but I take my friends out all the time and I pay for their lunch or dinner and I dont expect anything in return. But, if he is that rich then he should definitely be more considerate towards you. I am nobody to say this but it might be advisable to stay away from such people because they rely on you more than themselves.
2 people like this
3 Jun 07
A friend of mine once said to me that those with a lot of money are those who pinch the pennies. My best friend could well be classed as rich, he owns his own company, has four cars, a big house, and the kind of lifestyle I can only dream about. The reason he has all this is because he has worked damned hard for it but also he has kept an eye on the pennies and economised. However, although he is very careful with his money, he is generous to his friends and has always been a wonderful friend to me
2 people like this
• Canada
14 Apr 07
I know some rich people that are very money pinching... but it's weird. They will hardly spend any money on things that they need, or fun things, like I've never seen them go on a vacation, but then again they will go to the casino and spend over $5000 there in just one week. And they go very often to the casino. It makes me sad to see that they do this, when there are things that are better they can be spending their money on. That's a lot of money to waste for some casino games when at the end of the day you don't have anything to show for it.
2 people like this
• Canada
15 Apr 07
LOL from what you said her ehow do you think he got to be so well off? Taking advantage of points on cards Getting peopel to help pay for petrol Not tipping I use the rule once burned twice learned when i find peopel like that i try to avoid being wiht them in situations that involve money and do the things that i can live with like when out for dinner seperate bills and i will tip on mine for th ewhole table if they do not.
1 person likes this
@easy888 (10405)
• Australia
15 Apr 07
May be it is better to go to fastfood store every time so that i will pay on my own .lol
1 person likes this
• Canada
15 Apr 07
either that or just tell th eserver that you are all goign "Dutch" which means seperate bill.
@TerryZ (22083)
• United States
14 Apr 07
Oh yes I do find this to be true. Recently I was in need of some money. So my husbands friend is very wealthy so he asked him for 100 dollars and he refused him. and he had no reason he said he just didnt lend out his money.
@easy888 (10405)
• Australia
15 Apr 07
:(sad to hear that
• Canada
2 Jul 07
your husbands friend is so cheap. My friend is not rich, but I can borrow him 120$.
@flowerchilde (12520)
• United States
30 Jun 07
What puzzles me mostly is how the very very rich, all so often seem to want more and more millions! I cannot understand this. If I inherited, won, or somehow earned a million dollars, I'd simply pay off my bills and let hubby spend some and we would retire! But to need ever more and more toys, etc is crazy to me. I guess this is akin to your friend, though he has so much more money than you do, doesn't pay you back. What's the deal with all that? As I said, I just don't get it! Yes someone with this type of fever would quickly bore me, I'm thinking..
@easy888 (10405)
• Australia
1 Jul 07
If i have 1 million,i will be happy to live off the interests or i may have low risk investment. I may not want another millions and will be happy to live in the same way like now.
• United States
30 Jun 07
Sure, I think money pinching has everything to do with being rich. Once a person has a good career, and starts bringing in lots of money, all that money will go away if they don't watch it carefully. Just yesterday I heard about a man and his wife, who earn over $100,000 US dollars every year and are just two or three paychecks away from bankruptsy and losing their home. Why? Because they throw their money at every little extravagance that comes up. They can't say no to themselves or their children. Personally, as for my own finances, I've found that my savings only increase substantially when I am extra frugal. However, I would never take it to the extremes of asking others to pay for meals and such. That would make friends mad at me. Not worth a few saved coins! Best way I have of dealing with miserly people is to avoid them. Or, make sure that I don't have money with me when I see them. Or, else they will surely have it!
@easy888 (10405)
• Australia
1 Jul 07
May be i have to bring two purses when i am going out with them,one with money and one with few cents there:P
1 person likes this
@jay_em93 (99)
• Philippines
17 Apr 07
I think he should repay you, but you know what it's not my habit to remind someone to pay me for something that he/she owes me, i guess i'll never be a good marketeer,lol. Next time you shouldn't go out with this kind of people,if ever you'd decide to go out make sure you have your own money to pay for what you ate, just in case.
@easy888 (10405)
• Australia
19 Apr 07
I think it is not relaly good to remind people to repay money, they shold do it without being asked by other people.
• United States
17 Apr 07
i don't know anybody i'd say is truly,truly rich-but i do know some very well off..and yes,they are penny pinchers. they're the first ones to try to get something for free,last to help out anyone,and one even says "you don't make money by giving it away".
1 person likes this
@easy888 (10405)
• Australia
20 Apr 07
Exactly.
• United States
15 Apr 07
I think it depends on how the person got rich and what their upbringing is. Whether they were spoiled or taught the benefits of pinching pennies. I think your friend is a little extreme, and I would suggest to him to stop at an ATM before coming to you, but that is me.
1 person likes this
@easy888 (10405)
• Australia
15 Apr 07
True, there may also be rich person with good persoanlity and generous. But he always say he does not have credit card..lol.
@GuateMom (1411)
• Canada
14 Apr 07
Sounds like your friend is a bit extreme. Years ago I worked for a very rich couple that was building a house. They were SO stingy! They wanted the best for their house, but at the least cost and they bargained for everything. I was working as a paramedic on the building site, which was required by law since they had 50 workers and were more than an hour from the hospital. Every time the guy would see me, he´d ask my boss "do we have to keep paying her?" I think they figure they will stay rich by scrimping, and it is probably true, but some people take it too far.
1 person likes this
@easy888 (10405)
• Australia
15 Apr 07
may be it is an extreme case and i do have to admit some rich people are very generous.
@lingli_78 (12846)
• Australia
14 Apr 07
i wouldn't dare to make a generalisation like that... i don't think all rich people are money pinching as i have quite a few friends who are very rich and they are very generous... they help people and donate their money for charity... i wouldn't like to stay close with a money pinching person as i think i will not feel nice around them... and yes... the way they get rich is of course by working hard and doing the money pinching very tightly...
1 person likes this
@easy888 (10405)
• Australia
15 Apr 07
True, not all rich people are like that and there must be some exceptions. your friends are really very genenerous.
@misheleen73 (6037)
• United States
14 Apr 07
I never spend money on anything not needed. I have always been that way. I am not rich, I live a normal life. I don't go to fancy/expensive restaurants as I think it's a waste of money. I don't ask anyone for gas money though, that's quite rude & tacky. I do treat my friends and family if we do go out, as I feel especially if I invited them, it's my responsibility. I just choose not to waste money on trivial things.
1 person likes this
@easy888 (10405)
• Australia
14 Apr 07
Exactly, I am not that rich also, but i do treat my friends when I feel happy, I do not care about money if I can afford it. I also try not to buy something that i do not need, I will purchase necessoty not luruxy..
1 person likes this
@anonymili (3138)
30 Jun 07
I have to admit that the only rich people I know or hang around with are pretty decent people. I wouldn't bother associating with them otherwise as life is too short and I have enough friends without having to spend time with people I dislike or who are too much into their own needs as opposed to sharing with others. I am not poor. I only ever go out when I know I can pay my own way. I have a few friends who are quite a bit more well off financially than I am but I don't expect them to pick up the tab or pay more than their fair share when we go out as I would not expect my friends who are less affluent than me to try and sponge money from me either. I believe in equality when it comes to friendship. If I don't have enough money to go out, I will not go out simple as that. Someone I know being richer than me doesn't mean they should have to pay for me as they work for their money just as I do. I have pals who treat me once in a while as I treat them back too. I have met people in the past who have a lot of money and are very tight with it, thinking every is after their money and they act like misers. If you act like a miser around me then you can stay at home with all your money and watch it grow as I don't have time for people like that LOL!
1 person likes this